CMC Markets vs Phillip Nova 2026: Which Broker is Better?
Choosing between CMC Markets and Phillip Nova depends on your trading style, preferred markets, and budget. CMC Markets is headquartered in London, UK, while Phillip Nova operates from Singapore. CMC Markets has the longer track record, established in 1989, compared to Phillip Nova which was founded in 2005. This in-depth comparison covers regulation, fees, platforms, markets, and overall ratings to help you decide which broker is the better fit in 2026.
CMC Markets
Phillip Nova
| CMC Markets | Phillip Nova | |
|---|---|---|
| BrokerRank Score | 4.0/5 ✓ | 3.4/5 |
| Min. Deposit | $0 | $0 |
| Spread from | 0.7 pips | 0.6 pips ✓ |
| Max Leverage | 1:500 ✓ | 1:20 |
| Regulation | FCA, ASIC, MAS ✓ | MAS |
| Platforms | Proprietary Web, Proprietary Mobile, MT4 | Proprietary Web, Proprietary Mobile, POEMS |
CMC Markets is the better choice overall, scoring 4.0/5 vs 3.4/5 on BrokerRank's independent rating. On fees, Phillip Nova offers lower spreads (0.6 pips).
See full side-by-side comparison belowCMC Markets vs Phillip Nova: Key Differences
CMC Markets
WinnerPhillip Nova
Still deciding between CMC Markets and Phillip Nova?
Skip the back-and-forth — answer 4 quick questions and we'll match you to your best fit.
Fees Comparison
CMC Markets
Phillip Nova
Lower feesRegulation & Trust
CMC Markets holds licences from FCA, ASIC, MAS. Phillip Nova is regulated by MAS.
Markets & Assets
Both brokers offer access to Cfd, Forex, Indices, Commodities markets. CMC Markets additionally covers Stocks. Phillip Nova adds Crypto.
Fees & Spreads
On spreads, Phillip Nova is more competitive with EUR/USD spreads from 0.6 pips, compared to 0.7 pips at CMC Markets.
Trading Platforms
CMC Markets supports Proprietary Web, Proprietary Mobile, MT4. Phillip Nova offers Proprietary Web, Proprietary Mobile, POEMS. Both brokers are available on Proprietary Web, Proprietary Mobile.
Minimum Deposit
CMC Markets requires no minimum deposit, while Phillip Nova sets no minimum deposit. This makes CMC Markets accessible to traders with any budget.
Overall Ratings
BrokerRank scores CMC Markets at 4.04/5 and Phillip Nova at 3.39/5, based on 50+ data points covering regulation, fees, platforms, markets, and user experience. CMC Markets leads overall with a clear advantage.
BrokerRank Verdict
Who Should Choose Which?
CMC Markets
4.0/5
Choose CMC Markets if you want…
- Higher overall rating (4.0/5)
- Higher leverage (up to 1:500)
- More regulatory licences (3)
- More market types (6)
Phillip Nova
3.4/5
Choose Phillip Nova if you want…
- Tighter spreads (from 0.6 pips)
Also consider
We earn a commission when you open an account through these links, at no extra cost to you. Our ratings are scored independently — see the full independent ranking.
Both CMC Markets & Phillip Nova are available in
Frequently Asked Questions
1Is CMC Markets better than Phillip Nova?
CMC Markets scores higher overall on our independent rating system. CMC Markets holds a 4.0/5 rating vs Phillip Nova's 3.4/5. The best choice ultimately depends on your trading style — see our full verdict above for a detailed breakdown.
2Which has lower fees, CMC Markets or Phillip Nova?
CMC Markets offers spreads from 0.7 pips, while Phillip Nova starts at 0.6 pips. Check the fees section above for a full breakdown.
3What is the minimum deposit for CMC Markets vs Phillip Nova?
CMC Markets requires a minimum deposit of $0. Phillip Nova requires $0.
4Which broker is safer, CMC Markets or Phillip Nova?
CMC Markets is regulated by FCA, ASIC, MAS, while Phillip Nova holds licences from MAS.
5What trading platforms do CMC Markets and Phillip Nova support?
CMC Markets supports Proprietary Web, Proprietary Mobile, MT4. Phillip Nova supports Proprietary Web, Proprietary Mobile, POEMS.
6Can I use both CMC Markets and Phillip Nova?
Yes, you can hold accounts at multiple brokers simultaneously. Many traders diversify across platforms to access different markets and tools.
Key Trading Terms
Related Guides
More Comparisons
BrokerRank Research
Only 26% of Brokers Are Truly Fee-Free
BrokerRank Research — Hidden costs across our broker database
58% of Brokers Hold a Single Licence
BrokerRank Research — Regulation quality analysis
71% of Retail Traders Lose Money
BrokerRank Research — Loss rates across 50 EU brokers
76% of Brokers Use Proprietary Platforms
BrokerRank Research — MT4 vs MT5 vs proprietary
Trading involves risk. Past performance is not indicative of future results. Capital at risk. Full risk disclosure.
Featured
Deriv
4.0Capital at risk · T&Cs apply
